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IDFC Private Equity has appointed Rallis India’s former chief financial officer Girish Nadkarni as a Partner. IDFC PE, which manages $1.3 billion across three infrastructure-focused private equity funds, is a subsidiary of the Infrastructure Development Finance Company Ltd.

Nadkarni, who has spent over a decade at the Tata Group, brings to the table two decades of experience in diverse fields like buyouts, corporate finance, treasury & risk management, business strategy, mergers & acquisitions, global financial reporting, taxation and setting up new businesses.

Before joining IDFC PE, Nadkarni was executive vice-president (finance & legal) and CFO of the agri-business firm Rallis India Ltd and was a member of the executive committee. Earlier, he had worked as the deputy CFO at Tata Chemicals and also as the vice-president at Tata Industries, where he spent over six years. While working at Tata Industries, he was involved in acquisitions of VSNL, Hughes Tele.com, Escotel Mobile, etc., as well as in the divestments of Tata’s stakes in Idea and Tata Honeywell. He also managed joint venture relationships with companies like Avaya, Honeywell, Ascendas, Cingular and Birla.

“The private equity business is a key pillar of IDFC’s ‘Alternative Assets’ strategy and Girish’s addition as ‘partner’ to our team of experienced professionals is a boon. I take this opportunity to wish him every success at IDFC,” said Satish Mandhana, managing partner at IDFC PE. Mandhana took over IDFC PE in the newly created position of managing partner after founding CEO Luis Miranda moved into the role of non-executive chairman of IDFC Private Equity.

Other two partners at IDFC PE are S.G. Shyam Sundar and Raja Parthasarthy, according to its site.

Over the last seven-eight months, the PE firm has exited its investments in companies like L&T Infrastructure Development and HealthCare Global, while its latest investment is in GVR Infra Projects.